Kennebec Savings Bank Lowers Position in Prologis, Inc. (NYSE:PLD)

Kennebec Savings Bank reduced its position in shares of Prologis, Inc. (NYSE:PLD) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,664 shares of the real estate investment trust’s stock after selling 348 shares during the period. Kennebec Savings Bank’s holdings in Prologis were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PLD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Prologis by 534.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,143,554 shares of the real estate investment trust’s stock worth $1,280,928,000 after buying an additional 8,545,336 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Prologis by 145.0% in the third quarter. Janus Henderson Group PLC now owns 3,613,494 shares of the real estate investment trust’s stock valued at $456,320,000 after acquiring an additional 2,138,693 shares during the period. AMF Tjanstepension AB boosted its position in shares of Prologis by 267.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,875,612 shares of the real estate investment trust’s stock worth $236,879,000 after purchasing an additional 1,365,811 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Prologis by 547.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,034,000 shares of the real estate investment trust’s stock worth $116,129,000 after purchasing an additional 874,411 shares during the period. Finally, Cardano Risk Management B.V. purchased a new position in shares of Prologis in the 3rd quarter valued at about $109,579,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PLD shares. UBS Group upped their target price on shares of Prologis from $121.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial raised their price objective on Prologis from $121.00 to $123.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research decreased their target price on Prologis from $154.00 to $134.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Baird R W upgraded shares of Prologis from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Trading Up 1.3 %

NYSE PLD opened at $120.66 on Friday. The company has a market cap of $111.75 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.66 and a beta of 1.09. Prologis, Inc. has a 12 month low of $100.82 and a 12 month high of $135.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.23 and a quick ratio of 0.43. The company has a 50-day moving average of $110.83 and a 200-day moving average of $118.42.

Prologis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, December 16th. Prologis’s dividend payout ratio (DPR) is 96.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.